Choksi has refused to join a CBI probe in the USD 2 bn PNB scam and claimed that "untenable" allegations had resulted in "sudden closure" of his business.
Goldman Sachs lowered its real GDP forecast on India for the year to March 2019 to 7.6 percent from 8 percent earlier.
The CBI filed charges against a former chairman of Canara Bank and others over allegations that the officials helped a company defraud the bank of about $10.5 million.
A special CBI court remanded in judicial custody till March 28 the 11 accused arrested in connection with the multi-crore Punjab National Bank (PNB) fraud case.
The Punjab National Bank (PNB) clarified that Rs 9.10 crore fraud unearthed pertaining to Chandri Paper and Allied Products was not a new fraud.
PNB said it will honour all "bonafide" Letter of Undertakings, an instrument which was used by billionaire diamantaire Nirav Modi to defraud the bank of Rs 12,968 crore.
PNB has asked for certain information from peer banks but no condition has been set for payouts related to LoUs in the Rs 12,968 crore scam, sources said.
Public sector banks want PNB to honour its commitment with regard to LoUs allegedly issued by it to Nirav Modi and its associates, said SBI Deputy MD M S Sastry.
Some 31 suspected economic offenders have fled the country to avoid prosecution, the govt has told Lok Sabha.
All PSBs have verified LoUs issued by them, and there are no other unauthorised authority letters except for those issued by PNB, a senior SBI official said.
Acquires Cynosure Inc and Cynosure Interface Solutions for $31mn and Rs13cr respectively
To add platform capabilities in the insurance segment which contributes 15% of total business
The Acquisition is expected to close within the next 3 months
Sells Essar Steel loan to Deutsche Bank
Has sold its $385 mn Foreign currency loan extended to Essar Steel
Bank has taken a 38% haircut
Rs 1600 cr is expected earnings to the bank from the deal
Economic Times Reports
To Sell 50% stake in prime Mumbai office assets to Blackstone for $1.3bn
The co is also in discussions to sell its residential and commercial projects in Chennai
To convene shareholder’s meet on 23rd March in regard to the proposed divestment
Gets Order Worth Rs 230 Cr From NTPC
To perform the pressure part metallurgy upgradation for 3 660MW super critical steam generators
Will help NTPC commission the 3x 660MW plant started 12years
Declared L1 bidder for EPC Project in UP worth Rs 677cr from NHAI
The completion period for the project is 30 months